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Guam officials request $85.19M Section‑30 advance as BBMR maps FY2027 revenues at $1.078B
Summary
BBMR presented FY2027 gross general‑fund revenue of about $1.078 billion and reported an advance request to the U.S. Office of Insular Affairs for $85,187,739 under Section 30; officials noted advances are typically honored but subject to later reconciliation and cautioned policymakers that reducing the business privilege tax would create a budget gap.
BBMR and budget staff presented FY2027 revenue assumptions to the Committee on Finance and Government Operations, explaining the methodology and major line items that drive the executive budget. Abigail Fashar of BBMR described the projection method (a three‑year average of actual collections for the four major categories—individual, corporate, withholding and BPT—and allocation through a composite model) that produced a FY2027 gross general‑fund estimate of approximately $1,078,000,000.
Section 30 request: BBMR said the governor-signed advance request to the U.S. Department of the Interior, Office of Insular Affairs totals $85,187,739 for FY2027, an increase of about $5.5 million compared with the prior year advance ($79.7M). Officials noted the advance is normally honored and that reconciliations may yield additional payments later.
Policy context and contingencies: Officials repeatedly warned that the executive FY27 budget assumes BPT remains at 4.5% and flagged that statutory provisions could reduce it to 4.0% by FY27; keeping the half‑percent yields resources to meet near‑term obligations such as lease payments for schools, repairs to facilities that will revert to government ownership, and other operating pressures. BBMR said it will supply variance details and updated forecasts tied to June 20 CR publication.
